ServiceNow, Inc. $NOW Holdings Increased by Calamos Advisors LLC

Calamos Advisors LLC grew its position in ServiceNow, Inc. (NYSE:NOW) by 33.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,056 shares of the information technology services provider’s stock after acquiring an additional 72,731 shares during the period. Calamos Advisors LLC’s holdings in ServiceNow were worth $38,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Cornerstone Financial Management LLC lifted its position in ServiceNow by 72.8% in the second quarter. Cornerstone Financial Management LLC now owns 254 shares of the information technology services provider’s stock valued at $25,000 after purchasing an additional 107 shares during the period. Marquette Asset Management LLC boosted its holdings in ServiceNow by 75.0% in the 2nd quarter. Marquette Asset Management LLC now owns 301 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 129 shares in the last quarter. Kilter Group LLC acquired a new position in ServiceNow during the 2nd quarter worth approximately $31,000. Solstein Capital LLC acquired a new position in ServiceNow during the 2nd quarter worth approximately $35,000. Finally, Pathway Financial Advisers LLC acquired a new position in ServiceNow during the 3rd quarter worth approximately $38,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

ServiceNow Price Performance

Shares of NOW traded down $0.45 on Friday, reaching $101.91. The stock had a trading volume of 15,093,492 shares, compared to its average volume of 18,003,326. The firm has a market capitalization of $105.78 billion, a PE ratio of 73.32, a PEG ratio of 2.03 and a beta of 1.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $136.31 and a 200 day moving average of $114.81. ServiceNow, Inc. has a twelve month low of $81.24 and a twelve month high of $175.00.

ServiceNow (NYSE:NOW) last released its quarterly earnings data on Wednesday, October 28th. The information technology services provider reported $1.00 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.02). The firm had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.09 billion. ServiceNow had a net margin of 9.36% and a return on equity of 15.17%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.82 earnings per share. Sell-side analysts expect that ServiceNow, Inc. will post 2.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price target on ServiceNow from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. KeyCorp reiterated an “underweight” rating and issued a $110.00 price objective (up from $85.00) on shares of ServiceNow in a research report on Thursday, October 29th. Citigroup cut their price objective on ServiceNow from $170.00 to $157.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. BTIG Research reduced their target price on ServiceNow from $170.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, October 29th. Finally, UBS Group restated an “underweight” rating on shares of ServiceNow in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.50.

ServiceNow News Summary

Here are the key news stories impacting ServiceNow this week:

• Positive Sentiment: ServiceNow is broadening its agentic-AI partnership with LTM, aiming to take AI workflows to more enterprise customers. The company also highlighted deployments and selections by customers including LTM, KORE and Keysight, supporting its case that businesses are adopting its AI platform. ServiceNow expands enterprise AI partnerships
• Positive Sentiment: ServiceNow raised its AI contract-value target to $1.7 billion, and its CFO described fears that AI will disrupt the company’s business as unfounded. These points may help reassure investors about AI’s potential as a growth driver. ServiceNow Q3 earnings call highlights
• Neutral Sentiment: The NBA extended its partnership with ServiceNow, adopting EmployeeWorks for employee self-service and workplace requests. The deal adds a customer use case, though its near-term financial impact was not specified. NBA and ServiceNow extend partnership
• Negative Sentiment: Investors are focused on the outlook: despite a third-quarter revenue beat, ServiceNow’s fourth-quarter current remaining performance obligations growth forecast of 18.5% disappointed the market and prompted concerns about slowing backlog growth. The stock has fallen sharply since the report. ServiceNow outlook and AI concerns
• Negative Sentiment: ServiceNow is undertaking another round of layoffs, while third-quarter severance costs rose to $87 million from $24 million a year earlier. Separate reports that the board approved $127 million in retention awards as the company cuts jobs may also draw scrutiny over costs and priorities. ServiceNow layoffs and severance costs
• Negative Sentiment: ETFs were net sellers of $29.5 million in ServiceNow shares on Wednesday, adding a modest near-term headwind. ETF selling of ServiceNow shares

Insider Buying and Selling at ServiceNow

In other ServiceNow news, insider Jacqueline Canney sold 7,847 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $138.00, for a total value of $1,082,886.00. Following the sale, the insider owned 30,042 shares of the company’s stock, valued at approximately $4,145,796. This represents a 20.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paul Fipps sold 2,034 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $147.87, for a total value of $300,767.58. Following the completion of the transaction, the insider owned 18,305 shares of the company’s stock, valued at approximately $2,706,760.35. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 14,081 shares of company stock valued at $1,937,904. Insiders own 0.34% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc provides cloud-based software that helps organizations manage digital workflows and automate business processes. Founded in 2004 by Fred Luddy, the company began with a focus on IT service management and has expanded its platform to support a range of enterprise operations.

Its products include tools for IT service and operations management, customer service, human resources, security, and application development. ServiceNow also offers artificial intelligence capabilities, including tools designed to help organizations automate tasks and find information across workflows.

ServiceNow serves businesses and public-sector organizations around the world.